# The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001, Article 163: Cash ratio deposits

Extent: E+W+S+N.I.

(1) For sub-paragraph (1) of paragraph 1 of Schedule 2 to the Bank of England Act 1998 (cash ratio deposits) substitute—
“(1) Each deposit-taker is an eligible institution for the purposes of this Schedule.
(1A) “Deposit-taker” has the meaning given in section 17, except that it does not include—
(a) a credit union;
(b) a friendly society;
(c) a person who has permission to accept deposits under Part 4 of the Financial Services and Markets Act 2000 only in the course of effecting or carrying out contracts of insurance in accordance with that permission; or
(d) an EEA firm of the kind mentioned in paragraph 5(c) of Schedule 3 to that Act.
(1B) “Credit union” has the meaning given—
(a) by the Credit Unions Act 1979; or
(b) in Northern Ireland, by the Credit Unions (Northern Ireland) Order 1985.
(1C) “Friendly society” means—
(a) a society which is registered within the meaning of the Friendly Societies Act 1974; or
(b) a society incorporated under the Friendly Societies Act 1992.”.
(2) In sub-paragraph (2) of that paragraph, for “sub-paragraph (1)” substitute “sub-paragraphs (1) to (1C)”.

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Source: https://www.legislation.gov.uk/uksi/2001/3649/article/163 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-163
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.